Currently Clearstream Banking Luxembourg1 receives the event type EXRI CHOS for subscription rights in MT564 and MT566 messages but transforms it into event type EXRI VOLU and send it to customers.

Effective

23 November 2015

Clearstream Banking Luxembourg will receive the event type EXRI CHOS in MT564 and MT566 notifications and will in turn send the event type EXRI CHOS messages to all customers.

This is as a result of Clearstream Banking Luxembourg’s update to Creation.

Impact on customers

Customers will now receive the messages for the two event scenarios, event combination RHDI MAND and EXRI CHOS in MT564 and MT566 notifications for the following markets:

Finland

Germany

Ireland

Norway

Singapore

Sweden

Switzerland

UK

The first event and second event will be sent at the same time. If the customer has no holdings in the interim rights, notification of the second event will be granted by notifying eligible holdings on the basis of the first event. Both events are linked to each other.

Adaption to German market practice for German domestic securities in Clearstream Banking Frankfurt (CBF)2

Mandatory events with intermediate securities will be handled as a two event scenario for the below mentioned combinations:

BONU MAND – EXOF CHOS (BONUS – EXCHANGE)

DECR MAND – EXOF CHOS (SPLITREV – EXCHANGE)

DVSE MAND – EXOF CHOS (STKDIV – EXCHANGE)

MRGR MAND - EXOF CHOS (MERGER – EXCHANGE)

PINK MAND – EXOF CHOS (STKDIV PINK – EXCHANGE)

SOFF MAND – EXOF CHOS (SPINOFF – EXCHANGE)

SPLF MAND – EXOF CHOS (SPLIT – EXCHANGE)

SPLR MAND – EXOF CHOS (SPLITREV – EXCHANGE)

Participation in the corporate action is mandatory and further instructions from the customers are required on the EXOF CHOS event.

Tender and repurchase offers with a cash line (credit) for German domestic securities in CBF

For BIDS VOLU and TEND VOLU in CBF the CASH option and newly introduced SECU option will have a SECMOVE CREDIT sequence. This will enable the event templates to cover German peculiarity on tender and repurchase offers, where a cash line is credited. Customers will instruct on the BIDS VOLU or TEND VOLU event, in order to get their ordinary shares exchanged into the ISIN of the cash line. Removal of the cash line and CASHMOVE CREDIT will be handled by an EXOF MAND event at later stage of the event lifecycle.

Further information

For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.